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frodo75

Bear Trap on SPY

SPDR S&P 500 ETF TRUST (AMEX:SPY)  
frodo75 Updated   
AMEX:SPY   SPDR S&P 500 ETF TRUST
Chart Patterns
6
3
chartpattern
How do you get the retail traders who are blindly buying calls off your back? How do you entice more bears to buy Puts that will be worthless soon?

Gap down for no reason!

Bear Trap warning.
Comment:
If we break below 2751 on ES tonight, we may go down further to test the SMA200 on hourly chart of ES. Around 270 on SPY. Perhaps we open there tomorrow with another gap down. Or they get over with it in the pre-market and we are back to upward trend by the time market opens.
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